Rupee recovers 15 paise to end at 65.03 Vs USD

Mumbai: Snapping its two-day losing streak, the rupee on Wednesday regained 15 paise to close at 65.03 per dollar on fresh selling of the American currency by banks and exporters on the back of weakness in greenback overseas.

The rupee resumed higher at 65.11 per dollar as against yesterday's level of 65.18 at the Interbank Foreign Exchange (Forex) market and firmed up further to 65.00 before concluding at 65.03, showing a gain of 15 paise 0.23 percent.

The domestic currency had lost 44 paise or 0.67 percent in the previous two days.

It moved in a range of 65.00 and 65.18 per dollar during the day.

The dollar today moderately weakened against the yen and euro in Asian trade, as the Japanese and eurozone currencies were bought amid volatility in riskier assets.

Currency trade pairs such as the dollar-yen continue to lack clear direction, as disappointing US jobs data earlier this month increased expectations that the Federal Reserve will likely keep its monetary policy in place over the coming months in the face of a cloudy global growth outlook.

Oil prices were subdued in volatile Asian trade today as the market digested a report from the the International Energy Agency (IEA) showing that global crude oversupply will persist until next year.

Meanwhile, the Indian benchmark Sensex ended lower by 66.87 points or 0.25 percent.